2007-09-19 04:41:50 · 4 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Fraud/Deception springs to mind.
2007-09-19 04:47:56 · answer #1 · answered by Bacon Double Cheese Burger 3 · 1⤊ 0⤋
If you open anything other than a savings or basic account, you will have to have a credit check.
A business account is more so than an ordinary account as the bank will pressume that at some stage you will need their help (ie money) and they have to be sure that you can pay it back.
So the answer is he can't do it unless he goes to one of these very unsrupulous lenders but defaults might be repaid with busted kneecaps...
2007-09-19 04:54:39 · answer #2 · answered by ? 4 · 0⤊ 0⤋
NO NO NO ...
WHY do you think he has 'poor credit' ??
Maybe because he has DEFAULTED (failed to pay back) on loans ? Where did the money go ? Just maybe he is a totally incompetent businessman and incapable of managing money ??
If you do this, the Loan will be in YOUR name .. and very soon YOUR credit rating will be as low as his .. and then the legal troubles will start .. you will be going to Loan Sharks just to pay the food bill whilst watching Bailiffs come to collect your belongings ..
Eventually your house will be re-possessed ... whilst your 'friend' will have spent all the money you loaned for him and soon be conning some other (soon to be) poor stupid mug into arranging more loans for him to live high on ...
2007-09-19 22:29:42 · answer #3 · answered by Steve B 7 · 0⤊ 0⤋
That is fraud and brings a custodial sentence along with it.
You would also fall under the act of money laundering and be fined thousands.
2007-09-19 04:52:12 · answer #4 · answered by balooooeee 2 · 0⤊ 0⤋